Global GaN Semiconductor Devices Market to Register 24.60% CAGR 2013-2019 due to Rising Demand from Defense Sector
A new market research report, titled “GaN Semiconductor Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019,” has been published by Transparency Market Research. The 98-page report offers a detailed analysis of the global GaN semiconductor devices market, focusing on the major growth drivers, barriers, product segmentation, current trends, key geographical segments, and the competitive landscape. The past performance and future projections of the global GaN semiconductor devices market have also been covered in the research report.
Browse the full GaN Semiconductor Devices Market (Power semiconductors, Opto semiconductors) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at https://www.transparencymarketresearch.com/gallium-nitride.html
As per the report, in 2012, the global GaN semiconductor devices market stood at US$379.82 mn and is projected to exhibit an impressive 24.60% CAGR between 2013 and 2019. The market is expected to reach a value of US$2,203 mn by 2019.
Gallium nitride (GaN) refers to a bandgap semiconductor material, which is majorly used in bright light-emitting diodes. Some of the electrical properties of GaN, including high breakdown voltage and saturation velocity makes GaN the one of the best options for high power appliances. GaN is considered as a matured technology that offers the advantage of reducing the size of the device and cutting down on the cooling requirements. This helps in reducing the overall cost of the device.
The increasing application areas for GaN semiconductor devices and the growing demand for high-performance devices in the defense sector are the prominent factors projected to bolster the growth of the global GaN semiconductor devices market throughout the forecast period. Furthermore, powering futuristic hybrid electric vehicles and electric vehicles are some of the potential opportunities for the major players in the market. However, the high cost of pure gallium nitride (GaN) is a major factor impeding the growth of the GaN semiconductor devices market worldwide.
By application, the global GaN semiconductor devices market has been classified into medical, ICT sector, consumer electronics, military, aerospace, and defense, automotive sector, computer sector, and others. At present, the military, aerospace, and defense segment accounts for the largest share in global semiconductor devices market. This segment is projected to grow substantially in the coming years, due to the continuous need for improving performance of their devices. Nevertheless, the consumer electronics segment is anticipated to lead the overall market in the next few years.
In 2012, North America accounted for a 32% share in the global GaN semiconductor devices market and is estimated to remain in the leading position in the next few years. The rapid growth of this region can be attributed to the increased penetration of GaN semiconductor products in aerospace, defense, and military sector. Asia Pacific is anticipated to grow at a fast pace in the forecast period, exhibiting an impressive 27.70% CAGR between 2013 and 2019. The rapid industrialization and technological advancements in the electronics and automotive industries are propelling the growth of the GaN semiconductor devices market in Asia Pacific.
The global GaN semiconductor devices market is highly fragmented in nature owing to the presence of small-sized, mid-sized and large companies. Some of the leading players operating in the global GaN semiconductor devices market are RF Micro Devices Inc., Fujitsu Limited, Cree Inc., Freescale Semiconductors Incorporated, GaN Systems Inc., Nichia Corporation, and International Rectifier Corporation.
Key Segments of the Global GaN Semiconductor Device Market:
GaN Semiconductor Device Market, by product type
- Power semiconductors
- Schottky Diode
- Metal Oxide Semiconductor Field Effect Transistor (MOSFETs)
- High Electron Mobility Transistors (HEMTs)
- Others (Rectifiers, other advanced transistor types)
- Opto semiconductors
- Light Emitting Diodes
- Laser Diodes
GaN Semiconductor Device Market, by application
- Computer Sector
- ICT Sector
- Automotive Sector
- Military, Aerospace and Defense
- Consumer Electronics
GaN Semiconductor Device Market, by geography
- North America
- Asia Pacific
- Rest of the World
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